Loan agreement for KZT 30 billion between JSC ‘Samruk-Energy’ and ADB

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08.11.2018 18:17

JSC ‘Samruk-Energy’ and the Asian Development Bank (ADB) have signed today the loan agreements for a total amount of US $ 80 million. The loan is provided in Tenge, which corresponds to the amount of about KZT 30 billion.

This important deal conducted by ‘Samruk-Energy’ in the loan portfolio optimization framework has formed a strong long-term partnership between the largest Kazakhstani energy holding and a reputable international financial development institution. For the ADB, agreements with ‘Samruk-Energy’ are the first and unique experience in the Republic of Kazakhstan, since the loans are provided in local currency. The funds will be allocated for general corporate purposes in order to improve the efficiency and financial performance.

The signing ceremony was held with the participation of Bakhitzhan Zhulamanov, the CEO of JSC ‘Samruk-Energy’ and the ADB Director of Infrastructure Finance for Central, South and West Asia Shantanu Chakraborty.

According to Bakhitzhan Zhulamanov, the attraction of credit funds from the largest development institute represented by ADB will serve as an incentive for building up and strengthening the investor base of JSC ‘Samruk-Energy’, and in general, is an indicator of a high level of trust from the bank and the market, as well as the confirmation of JSC ‘Samruk-Energy’ compliance to strict requirements of the international financial organizations.

For their part, the representative of the Asian Development Bank has noted that the Samruk-Energy`s course is consistent with the new strategy of ADB until the year 2030 in almost all areas. “In addition, it goes in a very close parallel with the country partnership strategy between the Republic of Kazakhstan and ADB, which was approved last year and puts the development of state structures on a non-sovereign basis as the main area of ​​attention. Speaking about the activities of the Department of Private Operations of the Asian Development Bank, we would like to state that we intend to significantly expand our area of ​​presence in Kazakhstan’s projects and that we are currently working on three projects on the renewable energy sources and their degree of readiness is on a sufficiently deep elaboration’, said Mr. Chakraborty.

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